Labour's economic nightmare before Christmas as shoppers close their wallets: Retailers blame the Budget as sales fall for the third month in a row while families wait for bargains
3 days, 4 hours ago

Labour's economic nightmare before Christmas as shoppers close their wallets: Retailers blame the Budget as sales fall for the third month in a row while families wait for bargains

Daily Mail  

Labour's Budget is being blamed for a sluggish Christmas shopping period as shops struggle to get hard-pressed families to part with their cash. Food sales underpinned a 0.2 per cent rise in business, lower than the 0.5 per cent rebound forecast by economist, after retail sales fell 0.5 per cent in October. British retailers returned to growth last month, up 0.2 per cent, with supermarket pre-Christmas sales offsetting the weakest trading for clothing stores in almost three years. The ONS said this came after clothing and footwear retailers reported that sales volumes dropped by 2.6 per cent for the month, taking them down to the lowest monthly level since January 2022. Earlier this month angry trade union bosses warned of fresh NHS and school strikes after ministers recommended a 2.8 per cent pay rise for millions of public sector workers.

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History of this topic

Festive gloom for High Street as sales slump
Trending News
2 days, 20 hours ago

Festive gloom for High Street as sales slump

Daily Mail  

Beleaguered retailers are suffering a 'gloomy festive period' according to figures that add to the broader picture of economic woe in the wake of the Budget. CBI principal economist Martin Sartorius said: 'Retailers have endured a gloomy festive period, with annual sales declining for a third consecutive month. Gloom: The CBI's retail survey found that sales this month were 'poor' …

Retail 'golden quarter' under pressure as sales disappoint again in November
2 weeks, 6 days ago

Retail 'golden quarter' under pressure as sales disappoint again in November

Daily Mail  

Retailers faced lacklustre sales again in November as weak consumer confidence continues to weigh on the sector's 'golden quarter'. Non-food online shopping sales figures slumped by 10.3 per cent year-on-year in November, new data from the British Retail Consortium and KPMG Retail Sales Monitor shows. Total retail sales fell by 3.3 per cent year-on-year in November, against growth of 2.6 …

‘If you mark it down, they will come.’ What to expect from retailers this holiday season
3 weeks, 6 days ago

‘If you mark it down, they will come.’ What to expect from retailers this holiday season

CNN  

CNN — Santa’s checking his list, elves in tow, as a model sailboat and selection of beach tees hang on the wall behind him. “The consumer has got firepower and is able to out and spend, so it’s not going to be a miserable holiday by any standards,” said Neil Saunders, retail analyst and managing director at GlobalData Retail. Bing …

The cost-of-living crisis is seeing retailers have near-constant sales, and experts say it's a warning sign for the economy
6 months, 3 weeks ago

The cost-of-living crisis is seeing retailers have near-constant sales, and experts say it's a warning sign for the economy

ABC  

After navigating her small business through the pandemic, Sara Crampton was confronted with a different challenge in April last year. "With how our business works, we're buying products six months ahead of time, so we couldn't quickly change our strategy," she told The Business. "At that point in time, you're not quite sure if you're the only business that's going …

Retail sales up strongly in December as Americans showed continued willingness to spend
11 months ago

Retail sales up strongly in December as Americans showed continued willingness to spend

Associated Press  

NEW YORK — Americans stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat tone and signaling that people remain confident enough to keep spending freely. Higher energy and housing prices boosted overall U.S. inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2% …

Still haven't bought holiday gifts? Retailers have a sale for you
1 year ago

Still haven't bought holiday gifts? Retailers have a sale for you

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “I think this is a more challenging year than …

Black Friday boosts retailers with sales surging in November despite fears of a tough Christmas for many shops
1 year ago

Black Friday boosts retailers with sales surging in November despite fears of a tough Christmas for many shops

Daily Mail  

Black Friday boosted shops last month with retail sales surging far more than expected. The ONS also revised data for October upwards, reporting that there was zero growth in retail sales rather than the 0.3 per cent fall previously estimated. Volumes were up 1.3 per cent in November as Brits sought out bargains, significantly better than the 0.4 per cent …

Still haven’t bought holiday gifts? Retailers have a sale for you
1 year ago

Still haven’t bought holiday gifts? Retailers have a sale for you

LA Times  

Super Saturday is expected to be the second busiest day of the holiday period after Black Friday. That’s lower than last year’s 5.4% growth but more consistent with typical holiday spending, which rose 3.6% between 2010 and 2019 before the COVID-19 pandemic skewered numbers. Adobe Analytics expects U.S. online holiday sales to rise 4.8% from last year between November and …

Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas
1 year, 1 month ago

Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas

ABC  

Despite high levels of pessimism among Australian consumers, David Wall has noticed a lot of people are buying board games and puzzles at his toy stores ahead of the Black Friday sales. "While we expect overall Christmas trading will be subdued, we're expecting this by Friday to be a record simply because people are shopping on a budget, and they're …

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
1 year, 1 month ago

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago

Associated Press  

NEW YORK — The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty. The group forecast Thursday that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. …

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite
1 year, 10 months ago

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite

ABC  

There are clearer signs that consumers are feeling the pain of high inflation and successive interest rate hikes as Australian retailers have posted their first drop in sales in almost a year. Key points: Retail turnover in fell 3.9 per cent in December Turnover rose 7.5 per cent, compared to December 2021 Markets have priced in an 84 per cent …

December retail sales fall 1.1% as inflation takes a toll
1 year, 11 months ago

December retail sales fall 1.1% as inflation takes a toll

Associated Press  

NEW YORK — Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell a worse-than-expected 1.1% in December, following a revised 1% drop in November, the Commerce Department reported Wednesday. In October, retail …

Retail group: Holiday sales up slower-than-expected 5.3%
1 year, 11 months ago

Retail group: Holiday sales up slower-than-expected 5.3%

Associated Press  

NEW YORK — Sales for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nation’s largest retail trade group. The National Retail Federation said Wednesday that holiday sales for the combined November and December period rose 5.3% to $936.3 billion. …

NRF: Holiday sales to slow from last year’s blistering pace
2 years, 1 month ago

NRF: Holiday sales to slow from last year’s blistering pace

Associated Press  

NEW YORK — The National Retail Federation, the nation’s largest retail trade group, expects holiday sales growth will slow to a range of 6% to 8%, compared with the blistering 13.5% growth of a year ago. The forecast is in line with a slew of holiday forecasts from various research and consulting firms point to a sales slowdown from last …

January retail sales surge 3.8% as consumers defy inflation
2 years, 10 months ago

January retail sales surge 3.8% as consumers defy inflation

Associated Press  

NEW YORK — Fueled by pay gains, solid hiring and enhanced savings, Americans sharply ramped up their spending at retail stores last month in a sign that many consumers remain unfazed by rising inflation. Retail sales jumped 3.8% from December to January, the Commerce Department said Wednesday, a much bigger increase than economists had expected. “Job growth is strong, wages …

Holiday sales rise 8.5% despite supply-chain issues and Omicron variant
2 years, 11 months ago

Holiday sales rise 8.5% despite supply-chain issues and Omicron variant

LA Times  

A shopper pushes her overflowing cart down an aisle at Macy’s in Indianapolis on Black Friday. Holiday sales rose at their fastest pace in 17 years, even as shoppers grappled with higher prices, product shortages and the raging new Omicron variant in the last few weeks of the season, according to one spending measure. Mastercard SpendingPulse, which tracks all kinds …

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather
3 years, 9 months ago

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather

NPR  

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather Enlarge this image toggle caption Joe Raedle/Getty Images Joe Raedle/Getty Images Consumers put their pocketbooks on ice last month after a spending spree in January. A winter storm that blanketed much of the country's midsection last month was partly to blame, depressing demand for sporting goods, home …

Retail group: holiday sales up 8.3% amid big spending shift
3 years, 11 months ago

Retail group: holiday sales up 8.3% amid big spending shift

Associated Press  

NEW YORK — The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores. Moreover, even within the retail industry, big box stores like Walmart and Target are dominating the landscape, enjoying big sales gains at the expense of mall-based stores that were forced …

U.S. retail sales fell in December for 3rd straight month
3 years, 11 months ago

U.S. retail sales fell in December for 3rd straight month

Associated Press  

NEW YORK — Americans cut back on spending in December for the third-straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month before, a decline Wall Street analysts weren’t expecting. That may …

Retail sales fell 1.1% in November, biggest drop in 7 months
4 years ago

Retail sales fell 1.1% in November, biggest drop in 7 months

Associated Press  

NEW YORK — Americans held back on spending during the start of the holiday shopping season, a troubling sign for retailers and the state of the U.S. economy. U.S. retail sales fell a seasonally adjusted 1.1% in November, according to the U.S. Commerce Department. The Commerce Department on Wednesday also revised October’s report, saying that retail sales fell 0.1% that …

Weak 0.3% US October sales gain spreads some holiday unease
4 years, 1 month ago

Weak 0.3% US October sales gain spreads some holiday unease

Associated Press  

NEW YORK — Retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores. A surge in coronavirus infections nationwide and the expiration of a $600 weekly boost to unemployment checks over the summer has slowed spending by Americans and contributed to the slowest retail sales growth since this …

Automobile Dealerships Foresee Flat or Moderate Growth During Festive Season: ICRA
4 years, 2 months ago

Automobile Dealerships Foresee Flat or Moderate Growth During Festive Season: ICRA

News 18  

Automobile dealerships are cautiously optimistic, expecting flat or moderate growth in the festive season after suffering twin blows of demand slowdown due to macroeconomic challenges and the impact of the coronavirus pandemic, according to rating agency ICRA. Citing a survey done by the ratings agency across PV, 2W and the CV segments with presence in rural, semi-urban and the metro …

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